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Debt (Tables)
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Summary of Long-Term Debt
A summary of long-term debt is as follows:
(In millions)
Coupon
 
June 30,
2017
 
December 31,
2016
Current portion of long-term debt:
 
 
 
 
 
Meda Bank Loans (a)
 
 
$
237.2

 
$
219.6

2018 Senior Notes (e) *
2.600
%
 
649.7

 

Meda Medium Term Notes (c)
 
 
69.7

 

Other
 
 
3.4

 
3.7

Deferred financing fees
 
 
(1.8
)
 

Current portion of long-term debt
 
 
$
958.2

 
$
223.3

 
 
 
 
 
 
Non-current portion of long-term debt:
 
 
 
 
 
2016 Term Loans (b) **
 
 
$
275.0

 
$
1,600.0

Meda Medium Term Notes (c)
 
 
88.4

 
146.4

2018 Floating Rate Euro Notes (d) **
 
 
571.3

 
526.0

2018 Senior Notes (e) *
2.600
%
 

 
649.6

2018 Senior Notes (e) **
3.000
%
 
499.7

 
499.6

2019 Senior Notes (f) **
2.500
%
 
999.3

 
999.1

2019 Senior Notes (g) *
2.550
%
 
499.6

 
499.5

2020 Floating Rate Euro Notes (h) **


 
571.3

 

2020 Euro Senior Notes (i) **
1.250
%
 
853.8

 
785.7

2020 Senior Notes (j) **
3.750
%
 
499.9

 
499.9

2021 Senior Notes (k) **
3.150
%
 
2,247.9

 
2,247.7

2023 Senior Notes (g) *
3.125
%
 
776.9

 
775.3

2023 Senior Notes (l) *
4.200
%
 
498.7

 
498.6

2024 Euro Senior Notes (m)**
2.250
%
 
1,139.7

 
1,049.2

2026 Senior Notes (n) **
3.950
%
 
2,234.2

 
2,233.5

2028 Euro Senior Notes (o) **
3.125
%
 
848.6

 
781.1

2043 Senior Notes (p) *
5.400
%
 
497.1

 
497.0

2046 Senior Notes (q) **
5.250
%
 
999.8

 
999.8

Other
 
 
6.9

 
7.1

Deferred financing fees
 
 
(82.5
)
 
(92.2
)
Long-term debt
 
 
$
14,025.6

 
$
15,202.9

____________
(a) 
Represents a bank loan of 2.0kr billion with AB Svensk Exportkredit (publ), as lender (“Svensk Exportkredit”), which matures in October 2017, and accordingly is included in current portion of long-term debt and other long-term obligations in the Condensed Consolidated Balance Sheets at June 30, 2017 and December 31, 2016.
(b) 
The 2016 Term Loans mature on November 22, 2019 and bear interest at LIBOR (determined in accordance with the 2016 Term Credit Agreement) plus 1.375% per annum. At June 30, 2017, the weighted average interest rate of the 2016 Term Loans was approximately 2.59%.
(c) 
Swedish medium term notes (“MTN”) program with an upper limit of 7.0kr billion. Of the total amount outstanding of 1.3kr billion, 588.0kr million matures on April 5, 2018 and 745.0kr million matures on May 21, 2019. At June 30, 2017, the weighted average interest rate of the MTNs was approximately 2.01%.
(d) 
Instrument bears interest at a rate of three-month EURIBOR plus 0.870% per annum, reset quarterly.
(e) 
Instrument is callable by the Company at any time at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted at the U.S. Treasury rate plus 0.30% plus, in each case, accrued and unpaid interest.
(f) 
Instrument is callable by the Company at any time at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted at the U.S. Treasury rate plus 0.25% plus, in each case, accrued and unpaid interest.
(g) 
Instrument is callable by the Company at any time at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted at the U.S. Treasury rate plus 0.20% plus, in each case, accrued and unpaid interest.
(h) 
Instrument bears interest at a rate of three-month EURIBOR plus 0.50% per annum, reset quarterly.
(i) 
Instrument is callable by the Company at any time prior to the date that is one month prior to the instrument’s maturity date at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on an annual basis, at a rate equal to the applicable Bund Rate (as defined in the Euro Notes Indenture), plus 0.30% plus, in each case, accrued and unpaid interest. On or after such date, the instrument is callable by the Company at 100% of the principal amount plus accrued and unpaid interest.
(j) 
Instrument is callable by the Company at any time prior to the date that is one month prior to the instrument’s maturity date at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted at the U.S. Treasury rate plus 0.35% plus, in each case, accrued and unpaid interest. On or after such date, the instrument is callable by the Company at 100% of the principal amount plus accrued and unpaid interest.
(k) 
Instrument is callable by the Company at any time prior to the date that is one month prior to the instrument’s maturity date at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted at the U.S. Treasury rate plus 0.30% plus, in each case, accrued and unpaid interest. On or after such date, the instrument is callable by the Company at 100% of the principal amount plus accrued and unpaid interest.
(l) 
Instrument is callable by the Company at any time prior to August 29, 2023 at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted at the U.S. Treasury rate plus 0.25% plus, in each case, accrued and unpaid interest. On or after such date, the instrument is callable by the Company at 100% of the principal amount plus accrued and unpaid interest.
(m) 
Instrument is callable by the Company at any time prior to the date that is two months prior to the instrument’s maturity date at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on an annual basis, at a rate equal to the applicable Bund Rate (as defined in the Euro Notes Indenture), plus 0.35% plus, in each case, accrued and unpaid interest. On or after such date, the instrument is callable by the Company at 100% of the principal amount plus accrued and unpaid interest.
(n) 
Instrument is callable by the Company at any time prior to the date that is three months prior to the instrument’s maturity date at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted at the U.S. Treasury rate plus 0.35% plus, in each case, accrued and unpaid interest. On or after such date, the instrument is callable by the Company at 100% of the principal amount plus accrued and unpaid interest.
(o) 
Instrument is callable by the Company at any time prior to the date that is three months prior to the instrument’s maturity date at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on an annual basis, at a rate equal to the applicable Bund Rate (as defined in the Euro Notes Indenture), plus 0.45% plus, in each case, accrued and unpaid interest. On or after such date, the instrument is callable by the Company at 100% of the principal amount plus accrued and unpaid interest.
(p) 
Instrument is callable by the Company at any time prior to May 29, 2043 at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted at the U.S. Treasury rate plus 0.25% plus, in each case, accrued and unpaid interest. On or after such date, the instrument is callable by the Company at 100% of the principal amount plus accrued and unpaid interest.
(q) 
Instrument is callable by the Company at any time prior to the date that is six months prior to the instrument’s maturity date at the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of principal and interest discounted at the U.S. Treasury rate plus 0.40% plus, in each case, accrued and unpaid interest. On or after such date, the instrument is callable by the Company at 100% of the principal amount plus accrued and unpaid interest.
*
Instrument was issued by Mylan Inc.
**  
Instrument was issued by Mylan N.V.
Minimum Repayments on Outstanding Borrowings
Mandatory minimum repayments remaining on the notional amount of outstanding long-term debt at June 30, 2017 are as follows for each of the periods ending December 31:
(In millions)
Total
2017
$
237

2018
1,791

2019
1,863

2020
1,928

2021
2,250

Thereafter
7,000

Total
$
15,069